An oligopoly exists when:
A)a few sellers have complete control over the industry.
B)a few sellers have no control over the industry.
C)many sellers are in control of the industry.
D)no one controls the industry.
E)none of the above.

Question

Quizplus · Accepted Answer

An oligopoly exists when a few sellers have complete control over the industry, which means they are able to influence prices and market conditions. This is in contrast to a perfectly competitive market, where there are many sellers and no one has control over the industry.

An Oligopoly Exists When